Adriatic Metals confirms takeover talks with Dundee Precious Metals
Published: 15:41 20 May 2025 BST
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has confirmed it is in discussions with Canadian miner Dundee Precious Metals Inc (TSX:DPM) over a possible full takeover of the business, following recent media speculation.
The London-listed company, which operates the Vares silver project in Bosnia and Herzegovina, said it had granted Dundee access to a limited set of confidential company documents to support due diligence efforts. However, Adriatic stressed there was no certainty that any formal bid would be made, or what the terms might be.
The company told shareholders: “Discussions remain ongoing and there can be no certainty that any firm offer will be made, nor as to the terms of any such offer.” It added: “Shareholders are advised to take no action.”
Dundee has until 5pm London time on 17 June to either submit a formal bid or walk away, under rules set by the Takeover Panel. This 28-day deadline, known as a "put up or shut up" period, can be extended only with the consent of both Adriatic and the Panel.
